Iraq Launches Downstream Expansion Drive

Iraq is aiming to add around 250,000 b/d to its current effective refining capacity by the end of next year and over the longer term Baghdad has plans to build five new refineries with a total throughput capacity of 640,000-840,000 b/d. With Iraqi product demand at around 600,000 b/d around a third higher than domestic supply and rising, the issue is critical for cash-strapped Baghdad.